Fuel

Gasoline Prices Remain Elevated by Harvey

The national average gasoline price spiked 27 cents to $2.65 for the week, as a result of Hurricane Harvey's deluge in the Gulf Coast, according to AAA.

Motorists in 26 states are paying 25 to 44 cents more for a gallon on unleaded, and the average price has increased in every state except Alaska, Idaho, Hawaii, and Utah. The current price level is near the two-year high of $2.67 per gallon reached from Aug. 15 to 18 in 2015.

Florida is now bracing for Hurricane Irma, which could reach the southern part of the state this weekend.

"AAA will continue to monitor Irma’s path and the potential impact the hurricane could have on residents in the area, as well as the refineries, pipelines and supply distribution components," said Jeanette Casselano, a AAA spokesperson.

Eight Gulf Coast refineries have begun restarting, according to the U.S. Department of Energy. That would account for about 10% of Gulf Coast refining capabilities. At its peak, Hurricane Harvey knocked out 27% of capacity.

At least four refineries have begun partial operation, and pipelines shut-down by Harvey have resumed operations or are in the process of coming back online, according to AAA.

Meanwhile, the price of a gallon of diesel increased 15.3 cents to $2.758, which is 35.1 cents higher than a year ago.

Fuel

Chevrolet will allow drivers to pay for fuel at participating Shell stations using a mobile app in the vehicle's infotainment system with a new electronic payment solution, General Motors has announced.

The outlook for national average on-highway diesel prices is for them to be higher this year and in 2019 than they were last year and in 2016, but they should at least be fairly stable during this time, according to the latest Short Term Energy Outlook from the U.S. Energy Department.

The national average price of unleaded gasoline jumped 5 cents to $2.49 per gallon in the first week of 2018 and has reached a level not seen since 2014 during the week that starts the new year, according to AAA.